LOAN AMENDMENT AGREEMENT

The Company, NSREG and Guangzhou Guangyue will shortly enter into the Loan Amendment Agreement, pursuant to which the three parties agree to change the terms of the Loan Contract.

IMPLICATIONS UNDER THE LISTING RULES

Reference is made to the announcement of the Company dated 25 September 2023 in relation to the loan amendment agreements for the provision of financial assistance to Guangzhou Guangyue on a pro rata basis. As the Loan and the Previous Loans were granted to the same borrower within the previous 12 months, the Company intends to aggregate the Loan with the Previous Loans. As the highest applicable percentage ratio (as defined in the Listing Rules) in respect of the calculation of the Loan and the Previous Loans on an aggregated basis exceeds 5% but is less than 25%, the Loan and the Previous Loans constitute a discloseable transaction of the Company under Chapter 14 of the Listing Rules. Therefore, the Loan and the Previous Loans are subject to reporting and announcement requirements but are exempt from shareholders’ approval requirement.